Insertion of new section 55A

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..... y:- '55A. Reference to Valuation Officer. With a view to ascertaining the fair market value of a capital asset for the purposes of this Chapter, the Income-tax Officer may refer the valuation of the capital asset to a Valuation Officer- (a) in a case where the value of the asset as claimed by the assessee is in accordance with the estimate made by a registered valuer, if the Income-tax Offic .....

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..... 57 (27 of 1957) shall, with the necessary modifications, apply in relation to such reference as they apply in relation to a reference made by the Wealth Officer under sub-section (1) of section 16A of that Act. Explanation. In this section, "Valuation Officer" has the same meaning as in clause (r) of section 2 of the Wealth-tax Act, 1957 (27 of 1957).'.
Statute, statutory provisions legis .....

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